It is known in the automotive engine art that the provision of variable valve timing (VVT) and/or variable valve lift valve actuating mechanisms has the capability for potentially improving the system performance of an engine by reducing pump work and valve train friction, controlling engine load and internal exhaust dilution, improving charge preparation, increasing peak power and enabling the use of various transient operation control strategies not otherwise available. A myriad of VVT mechanisms have been disclosed in the prior art but the use of such mechanisms has been relatively limited. This has been due in part to their size, cost and/or operating limitations which have limited their practicality and potential value in real production engine applications.